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Highland Pointe Sale Tops $25 Million Mark (Real Deals)Lock Icon

4 min read

A 168-unit apartment project in Maumelle tipped the scales at $25.2 million.

Thirteen limited liability companies, affiliates of Canyon View Capital in Santa Cruz, California, bought Highland Pointe Apartments at 100 Commercial Park Court.

The seller is Maumelle Housing Associates LLC, an affiliate of Maxus Properties in North Kansas City, Missouri. The deal is backed with a 10-year loan of $13.8 million from M&T Realty Capital Corp. of Baltimore.

The 10.37-acre location was acquired for $761,000 in September 2002 from Gene Pfeifer and his wife, Linda.

Commons Transaction

The 70,710-SF Chenal Commons retail center in west Little Rock rang up a $14.55 million sale.

VW Chenal Commons LLC, an affiliate of Vassar West in Houston, purchased the 12801 Chenal Parkway project from Chenal Commons DST, an affiliate of Inland Private Capital Corp. of Oak Brook, Illinois.

The deal is financed with a five-year loan of $9.6 million from Encore Bank of Little Rock.

The 5.5-acre development was bought for $12.2 million in November 2004 from Chenal Retail Inc., owned by the Arkansas Public Employees Retirement System.

Industrial Purchase

Neighboring industrial flex buildings in west Little Rock weighed in at $3.71 million.

Clearwater Brandon LLC, led by Michael Larkin, acquired the 41,447-SF project at 5310 S. Shackleford Road and the 23,450-SF 7 Clearwater Drive project from a group of trusts and individuals. 

The original ownership was divided among Michael and Anita McKee, 48.2%; Joseph and Carol Hartman, 18.3%; James and Lorilee Hartmann, 9.1%; William and Claire Hartmann, 9.1%; Donald and Susan Whitley, 6.9%; John and Bonnie Hartmann, 4.3%; and Brett Prahl, 4.1%.

The deal is funded with a five-year loan of $3.8 million from Citizens Bank of Batesville.

The 4.13-acre development was purchased for $2.5 million in June 2002 from Pama LLC, led by Dickson Flake.

Medley Acquisition

A 15,000-SF service-repair garage in North Little Rock is under new ownership after a $1.77 million deal.

Medley Little Rock Property LLC, an affiliate of Medley Equipment Co. in Oklahoma City, bought the United Rentals project at 121 House Court. The seller is MPI Little Rock LLC, an affiliate of Moir Park Capital of Wayzata, Minnesota.

The deal is backed with a $1.1 million loan from Bank7 of Oklahoma City.

MPI acquired the 3.3-acre development for $885,250 in January 2018 from House Properties Inc., led by Barbara House.

Dollar Deal

A 9,020-SF Dollar General in Sherwood sold for $775,000.

Kais Properties Inc. of Milan, Illinois, purchased the 14929 Hwy. 107 project from NGP LLC, led by John Baker.

The deal is financed with a five-year loan of undisclosed value from Quad City Bank & Trust of Bettendorf, Iowa.

The 0.88-acre development was bought for $715,000 in January 2015 from Long-Watson-Long Development LLC, led by Rodney Watson.

Warehouse Buy

A 63,074-SF warehouse in Little Rock drew a $450,000 transaction.

TFC Enterprises LLC, led by Thomas and Elizabeth Cox, acquired the 11800 Arch Street Pike project. The seller is Betts Real Estate Enterprises Inc., led by Craig Betts.

Betts purchased the 4.4-acre development four months ago as part of a $700,000 deal with the Teresa Ann Stalnaker Revocable Living Trust.

Ace Office

A 3,120-SF office building in west Little Rock changed hands in a $406,000 deal.

Scott and Michelle Perkey bought the 10819 Stagecoach Road project from Ace General Contractors Inc., led by Khaqan Bhatti.

The deal is funded with an 18-month loan of $324,800 from First Community Bank of Batesville.

Ace acquired the 0.49-acre site for $33,000 in October 2011 from Matthew Hunt.

West Sale

A 9,544-SF office-warehouse in Jacksonville rang up a $300,000 sale.

FPHC LLC, led by John Holladay, purchased the 215 S. Redmond Road project from Clarence and Karen West. 

The Wests bought the 1.88-acre development for $139,000 in June 2013 from John McKay.

New Congregation

A church in southwest Little Rock is under new ownership after a $195,000 transaction.

Gregorio Escarcega, pastor of Iglesia Apostolica De La Fe En Cristo Jesus USA, purchased the 9712 Chicot Road property from New Rock Of Ages Missionary Baptist Church, led by Travis Liggins.

New Rock acquired the 1.12-acre development for $245,000 in September 2007 from Little Rock’s Bank OZK.

Orle Residence

A 6,859-SF home in west Little Rock’s Orle neighborhood tipped the scales at $1.18 million.

Morris Estep bought the residence from Curtis and Regina Howse.

The deal is backed with a 30-year loan of $1 million from Caliber Home Loans Inc. of Coppell, Texas.

The Howses acquired the half-acre site for $157,000 in November 2007 from Deltic Timber Corp. of El Dorado.

Warehouse Transaction

Tomas and Renate Witt bought a 15,200-SF office-warehouse for $1.6 million from Metro Towing & Recovery Holdings LLC, led by Lee Maris.  

The 3.06-acre development at 11701 Vimy Ridge Road in Little Rock was acquired from Tommy Olive for $550,000 in September 2009.

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